PAR Technology (NYSE:PAR) Reaches New 52-Week High Following Better-Than-Expected Earnings

PAR Technology Co. (NYSE:PARGet Free Report) shares hit a new 52-week high on Monday following a stronger than expected earnings report. The stock traded as high as $75.00 and last traded at $75.00, with a volume of 431 shares. The stock had previously closed at $74.24.

The software maker reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. The company had revenue of $96.80 million during the quarter, compared to analysts’ expectations of $91.01 million. PAR Technology had a negative return on equity of 10.93% and a net margin of 0.44%. PAR Technology’s revenue for the quarter was down 9.6% on a year-over-year basis. During the same period last year, the business posted ($0.35) EPS.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Lake Street Capital increased their price objective on PAR Technology from $57.00 to $77.00 and gave the company a “buy” rating in a research note on Monday. Benchmark lifted their price objective on PAR Technology from $69.00 to $92.00 and gave the company a “buy” rating in a research note on Tuesday. The Goldman Sachs Group boosted their price objective on PAR Technology from $59.00 to $71.00 and gave the stock a “neutral” rating in a research report on Tuesday. Needham & Company LLC lifted their price target on shares of PAR Technology from $66.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday. Finally, StockNews.com upgraded shares of PAR Technology to a “sell” rating in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $77.38.

Get Our Latest Analysis on PAR

Institutional Investors Weigh In On PAR Technology

Institutional investors and hedge funds have recently bought and sold shares of the stock. Arcadia Investment Management Corp MI purchased a new stake in shares of PAR Technology in the 2nd quarter valued at about $32,000. Amalgamated Bank lifted its stake in PAR Technology by 25.5% in the second quarter. Amalgamated Bank now owns 1,166 shares of the software maker’s stock valued at $55,000 after buying an additional 237 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of PAR Technology in the first quarter valued at approximately $99,000. nVerses Capital LLC purchased a new position in shares of PAR Technology during the third quarter worth approximately $125,000. Finally, RiverPark Advisors LLC acquired a new position in shares of PAR Technology in the 2nd quarter valued at $191,000.

PAR Technology Stock Performance

The stock has a market cap of $2.72 billion, a PE ratio of -299.64 and a beta of 2.14. The firm’s 50-day moving average is $57.93 and its 200 day moving average is $51.48. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.80 and a current ratio of 3.12.

About PAR Technology

(Get Free Report)

PAR Technology Corporation, together with its subsidiaries, provides omnichannel cloud-based hardware and software solutions to the restaurant and retail industries worldwide. The Restaurant/Retail segment offers PUNCHH, an enterprise-grade customer loyalty and engagement solution; MENU, an eCommerce platform for restaurant brands; BRINK POS, an open cloud, point-of-sale solution; PAR PAYMENT SERVICES, a merchant services business that enables electronic payment and processing services for businesses; and DATA CENTRAL, a back-office solution that leverages business intelligence and automation technologies.

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